The chief strategist of an organization has to be the leader – the CEO.
MICHAEL PORTERI teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it’s the best perch… because most of my work crosses boundaries.
More Michael Porter Quotes
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Sound strategy starts with having the right goal
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There’s a fundamental distinction between strategy and operational effectiveness.
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A strategy delineates a territory in which a company seeks to be unique.
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The thing is, continuity of strategic direction and continuous improvement in how you do things are absolutely consistent with each other. In fact, they’re mutually reinforcing.
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If a strategy meets a goal: It’s working. If a strategy meets a target: It’s a success.
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The purpose of the corporation must be redefined as creating shared value, not just profit per se. This will drive the next wave of innovation and productivity growth in the global economy.
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The underlying principles of strategy are enduring, regardless of technology or the pace of change.
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A target should go with every goal. A target is the value that defines success.
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Strategy is choice. Strategy means saying no to certain kinds of things.
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Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.
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Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs.
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Operational effectiveness and strategy are both essential to superior performance.
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Finally, strategy must have continuity. It can’t be constantly reinvented.
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The ability to change constantly and effectively is made easier by high-level continuity.
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Good leaders need a positive agenda, not just an agenda of dealing with crisis.
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Efforts to preserve all industries will lower the national standard of living.
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Innovation is the central issue in economic prosperity.
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The essence of strategy is choosing what not to do.
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The company without a strategy is willing to try anything.
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You can’t be all things to all people.
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Technology has given us this wonderful opportunity to have low energy costs. We have to seize that, rather than keep debating and discussing and fighting over it.
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Without a goal analytics is aimless and worthless.
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If all you’re trying to do is essentially the same thing as your rivals, then it’s unlikely that you’ll be very successful.
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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.
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I teach in the medical school, the School of Public Health, the Kennedy School of Government, and the Business School. And it’s the best perch… because most of my work crosses boundaries.
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The best CEOs I know are teachers, and at the core of what they teach is strategy.
MICHAEL PORTER